Reliance Infrastructure (RInfra) has received approval from Maharashtra Electricity Regulatory Commission (MERC) for 100% stake sale in its integrated Mumbai power business to Adani Transmission (ATL) for an estimated value of Rs18,800 crore.
The company has already received approval of the Competition Commission of India (CCI) and its shareholders for the deal. Reliance Infrastructure and ATL had signed a Definitive Binding Agreement for integrated business of generation, transmission and distribution of power in Mumbai. The transaction is likely to be closed in July 2018.
RInfra is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.
